Quite often, we run into situations in which people are currently on a Retiree Medical plan, and they did not shop around Medicare plans before selecting the Retiree Plan.

Sometimes, Retiree Medical Plans are Cost Effective...In some cases, the Retiree Plan will be the best option based on Cost & Coverage. For example, we have heard of a Verizon retiree plan that is very good coverage for very little premium. Another case is the Public Teacher benefits for teacher's that have worked long enough to get the full Medical benefits; they pay little to no premiums for very good coverage.

Other Times, you could be overpaying by thousands of dollars per year!There are numerous other organizations and situations in which Retiree Medical Coverage is not the right option for people. We have seen some recent examples with Lockheed Martin & Lucent Retiree Plans. There are also private schools that provide retiree coverage that are not cost-effective. Additionally, state employees and teachers that haven't worked the full requirement of years and they are paying significant costs for their retiree benefits.

In these cases, people could save thousands of dollars per year switching to a Medicare Supplement & Part D plan.